Check Point Software Technologies (NASDAQ:CHKP) Upgraded by Robert W. Baird to Outperform Rating

Check Point Software Technologies (NASDAQ:CHKP) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $255.00 price target on the technology company’s stock, up from their previous price target of $235.00. Robert W. Baird’s price objective would indicate a potential upside of 15.77% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Mizuho raised their price objective on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their price objective for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. Jefferies Financial Group raised their price objective on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays upped their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a research note on Monday, January 27th. Eighteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $221.91.

Check Point Software Technologies Trading Up 1.6 %

NASDAQ:CHKP opened at $220.26 on Thursday. Check Point Software Technologies has a twelve month low of $145.75 and a twelve month high of $226.02. The company has a 50-day moving average of $201.38 and a 200-day moving average of $193.31. The firm has a market cap of $24.22 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65.

Hedge Funds Weigh In On Check Point Software Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHKP. Norges Bank bought a new position in Check Point Software Technologies during the fourth quarter valued at approximately $428,820,000. Clearbridge Investments LLC bought a new position in Check Point Software Technologies during the fourth quarter valued at approximately $100,456,000. Causeway Capital Management LLC raised its position in Check Point Software Technologies by 33.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after acquiring an additional 487,823 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Check Point Software Technologies by 73.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after acquiring an additional 464,821 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in Check Point Software Technologies during the fourth quarter valued at approximately $73,186,000. Institutional investors own 98.51% of the company’s stock.

About Check Point Software Technologies

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.